Court upholds ICAI decision to bar auditor from practising
Posted Date : 07-Oct-2011 , 08:16:43 am | Posted By CASANSAAR
The Delhi High Court has upheld the decision of the Institute of Chartered Accountants of India (ICAI) to bar an auditor for Global Trust Bank (GTB) from practising accountancy for five years, according to the national professional accounting body.
It was last year that the capital-...
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ICAI |
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Sebi to study the impact of STT on stock market turnover
Posted Date : 07-Oct-2011 , 08:10:38 am | Posted By CASANSAAR
The Sebi is reviewing the impact on the stock market turnover from a possible scrapping of STT, which is levied on all sale and purchase in the equity market. The regulatory authority is in favour of a complete or phased withdrawal of the levy and it expects any such move to positively impact the...
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Income Tax |
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IRDA slaps Rs 5 lakh fine on HDFC Standard Life
Posted Date : 06-Oct-2011 , 07:20:52 pm | Posted By CASANSAAR
Insurance regulator IRDA on Wednesday imposed a penalty of Rs 5 lakh on HDFC Standard Life for delaying settlement of claim and has asked the insurer to streamline its processes. "Considering the nature of the violation, the Authority has come to the conclusion that it is jus...
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General |
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RBI increases domestic money transfer limits
Posted Date : 06-Oct-2011 , 07:14:31 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has provided an impetus to financial inclusion by liberalising money transfer across the country. The apex bank has issued guidelines to open up the formal banking channel to facilitate fund transfers of small value, subject to monthly ceilings and monitoring....
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RBI |
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Empowered Committee on GST to meet on Oct 14
Posted Date : 06-Oct-2011 , 03:31:12 pm | Posted By CASANSAAR
The Empowered Committee of State Finance Ministers on GST, headed by Bihar Deputy Chief Minister Sushil Kumar Modi, will meet here on October 14 to discuss issues related to the roll out of the ambitious indirect tax regime. "We will be discussing the GST and the Centr...
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GST |
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Apple's Steve Jobs, visionary leader, dead at 56
Posted Date : 06-Oct-2011 , 09:47:44 am | Posted By CASANSAAR
The co-founder of Apple Inc, one of the world's great entrepreneurs, was surrounded by his wife and immediate family when he died in Palo Alto, California. Other details were not immediately available.
His death was announced by Apple and sparked an immediate outpouring of sadness and sympathy fr...
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International Business |
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Sebi announces uniform KYC norms for securities market
Posted Date : 05-Oct-2011 , 07:51:34 pm | Posted By CASANSAAR
"With a view to bring about uniformity in securities markets, it has also been decided that the same Know Your Customer (KYC) form and supporting documents shall also be used by all captioned SEBI registered intermediaries," the regulator said in a circular.
The new rule will be effective from Ja...
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SEBI |
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HC grants Everonn MD, co-accused bail
Posted Date : 05-Oct-2011 , 04:37:19 pm | Posted By CASANSAAR
Providing a breather to families of two of the accused in the Everonn graft case, the Madras high court on Tuesday granted bail to P Kishore, managing director, Everonn Education Limited and businessman Uttam Chand Bohra, charged with being a middleman. Passing orders, Justice K B K Vasuki include...
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General |
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President calls for furthering Indo Swiss business momentum
Posted Date : 05-Oct-2011 , 08:52:02 am | Posted By CASANSAAR
The President, Mrs. Pratibha Devi Singh Patil today invited the Swiss government to be a partner in India's skill development mission. She said, the Indian Government has set up a target of training 500 million skilled personnel by 2022.
Mrs. Patil said that Switzerland can jointly contribute t...
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International Business |
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Central Board of Direct Taxes (CBDT), extends the due date of filing of returns.
Posted Date : 04-Oct-2011 , 03:22:54 pm | Posted By CASANSAAR
The Income Tax Department, on consideration of the reports of disturbance of general life caused due to earthquake in the State of Sikkim, the central Board of Direct Taxes, in exercise of powers conferred under section 119 of the income Tax Act. 1961, hereby extends the ‘due date’ of fi...
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Income Tax |
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India debuts world's cheapest tablet computer at $35 tomorrow
Posted Date : 04-Oct-2011 , 08:05:59 am | Posted By CASANSAAR
The world's cheapest tablet computer, which will be unwrapped on Wednesday, will go on sale in India starting December, the maker of the device has said. Created for use by students, the tablet will first be made available to colleges at Rs 1,750 apiece ($35) although it costs Rs 3,000 to pr...
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General |
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Moily urges CAs to act as conduit for India investments
Posted Date : 04-Oct-2011 , 08:01:45 am | Posted By CASANSAAR
Chartered accountants of India, who hold key positions in companies within the Gulf, should serve as a conduit for investments into their country, India’s Minister for Corporate Affairs Dr Veerappa Moily said on
Monday.
In his inaugural address at the 30th annivers...
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Auditing |
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CAG’s latest ambition: Let us audit the Padma Awards now
Posted Date : 04-Oct-2011 , 07:55:46 am | Posted By CASANSAAR
The home ministry has declined a request from the Comptroller and Auditor General (CAG) for documents and other material to enable it to carry out an audit of the Padma Awards. The ministry’s decision has the backing of India’s highest law officer, and the file has been cleared by Home...
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CAG |
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Sebi wants companies to disclose 'relevant' risk factors
Posted Date : 04-Oct-2011 , 07:50:37 am | Posted By CASANSAAR
Capital market watchdog Sebi is considering a new set of regulations for disclosure of only relevant risk factors by the companies in a format that is easy-to-understand for the investors.
Besides, the regulator is also planning changes in norms to bring in more clarity in the disclosure of 'rela...
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SEBI |
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Zone-shifting of Candidates for November - 2011 CA Exams
Posted Date : 04-Oct-2011 , 07:48:38 am | Posted By CASANSAAR
Due to paucity of accommodation in some Zones opted by the candidates in the cities of Bangalore, Chennai, Delhi, Indore and Kolkata, some of the candidates have been allotted examinations centres in other zones of the said cities where the accommodation is available. In view of this, it is ...
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Students Zone |
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Government may allow 100% FDI in single-brand retail
Posted Date : 03-Oct-2011 , 05:23:24 pm | Posted By CASANSAAR
The government is considering allowing foreign companies to completely own single-brand retail stores in the country, after it was forced to put its plans of letting foreign retailers invest in multibrand outlets on the backburner due to lack of political consensus. At present, only 51% forei...
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Finance |
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Google ranked world's No.1 employer
Posted Date : 03-Oct-2011 , 05:18:05 pm | Posted By CASANSAAR
Internet search giant Google has been ranked as the best company to work for by management and engineering graduates in two separate surveys, which term the company the world's "most attractive employer" of 2011.According to the survey conducted by global employer branding firm Universum, ...
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International Business |
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Govts, PSUs favour CA firms with MNC link: ICAI
Posted Date : 03-Oct-2011 , 08:26:10 am | Posted By CASANSAAR
Accounting regulator ICAI has accused state and central governments, and PSUs, of deliberately favouring chartered accountant companies having affiliations with multinational audit firms.
"In certain cases, public sector undertakings, the government departments, central and state governme...
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ICAI |
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CBDT nod for tax free bonds worth Rs 30,000 cr
Posted Date : 03-Oct-2011 , 08:19:47 am | Posted By CASANSAAR
The income-tax department has given its nod for NHAI, IRFC, HUDCO and PFC to cumulatively issue tax-free bonds to the tune of Rs 30,000 crore during 2011-12.
Both National Highways Authority of India (NHAI) and Indian Railway Finance Corporation (IRFC) have been allowed to issue tax free bonds of...
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Income Tax |
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I-T notices sent to NGOs associated with Kiran Bedi
Posted Date : 03-Oct-2011 , 08:07:30 am | Posted By CASANSAAR
The Income Tax department has sent notices for scrutiny to two NGOs associated with Kiran Bedi, who said she is open to any investigation. The I-T notices to NGOs Navjyoti and India Vision Foundation sent on Saturday pertain to certain exemptions enjoyed by them under v...
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Income Tax |
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RBI mulls more interactive Internet presence
Posted Date : 03-Oct-2011 , 08:04:52 am | Posted By CASANSAAR
The Reserve Bank is planning to make its Web interface more interactive with a presence on social networking sites like Twitter, blogs and other online discussion forums.
The RBI is conducting a Web survey where it is asking the visitors to its website whether they would like features like discus...
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RBI |
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Moily calls upon NRIs to participate in India’s growth story
Posted Date : 03-Oct-2011 , 08:01:53 am | Posted By CASANSAAR
The Minister for Corporate Affairs Dr M. Veerappa Moily has called upon Non-resident Indians to participate in the growth story of India as government is making business easy in the country with amending key laws and introducing positive changes to make business easy. Speaking to reporters afte...
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International Business |
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Govt to infuse Rs 2 lakh cr into banks by 2020
Posted Date : 02-Oct-2011 , 04:36:46 pm | Posted By CASANSAAR
The government plans a whopping Rs 2 lakh crore capital infusion into the state-owned banks spread over 10 years, to help them meet fund requirement and comply with the Basel-III capital adequacy norms.
"[Capital infusion is] estimated at Rs 2 lakh crore by 2020 in public sector banks," D...
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Banking |
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Hindus'' marriage no religious function for tax purposes: HC
Posted Date : 01-Oct-2011 , 08:51:24 am | Posted By CASANSAAR
The Hindus' marriage ceremony is not a religious but a social function and various kinds of service providers, including those erecting tents for it, are not exempted from paying service tax, the Delhi High Court ruled today.
A bench of Chief Justice Dipak Misra an...
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Service Tax |
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Sebi revises bidding norms for FIIs in infra bonds
Posted Date : 01-Oct-2011 , 08:25:34 am | Posted By CASANSAAR
Revising its norms for foreign institutional investors (FII) in the infrastructure debt bonds, the capital market regulator Sebi today lowered the minimum bidding and allocation amounts for such investors. As per the revised guidelines, no single FII shall be allocated more than Rs 2,000 cror...
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SEBI |
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0 | Hits : 315
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CAG appointed as external auditor of IAEA, WIPO
Posted Date : 30-Sep-2011 , 07:46:26 pm | Posted By CASANSAAR
The Comptroller and Auditor General of India (CAG) will soon be breathing down the necks of two major UN organisations — the International Atomic Energy Agency (IAEA), Vienna and World Intellectual Property Organisation (WIPO), Geneva.
The CAG, which won nationwide praise for its reports on...
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Auditing |
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Cabinet approves new Mines and Minerals Bill
Posted Date : 30-Sep-2011 , 05:23:27 pm | Posted By CASANSAAR
The Union Cabinet has approved the Mines and Mineral Development and Regulation (MMDR) Bill, 2011 aimed at curbing illegal mining and bringing more transparency in the allocation of licenses for mining.Briefing the News persons in New Delhi, Information and Broadcasting Minister Ms. Ambika Soni said...
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General |
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Proposed Amendment of the Articles of Agreement of the International Monetary Fund on Reform of the Executive Board approved
Posted Date : 30-Sep-2011 , 05:20:50 pm | Posted By CASANSAAR
The Union Cabinet today gave its approval to certain amendments to the IMF`s Articles of Agreement on Reform of the Executive Board of the IMF.The amendments are part of a package of reforms on quotas and governance in the IMF. Along with the recent quota reforms in IMF (i.e., Fourteenth General Rev...
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Finance |
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Private firms may rotate auditors
Posted Date : 30-Sep-2011 , 08:04:36 am | Posted By CASANSAAR
n a major move towards increasing the level of corporate governance and transparency in India, firms will be mandated to rotate their auditors after every four year under the new Companies Bill.At present, private firms are not required to rotate auditors. The system is followed only by government...
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Auditing |
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0 | Hits : 993
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Chartered Accountant arrested in SpeakAsia scam
Posted Date : 30-Sep-2011 , 08:03:26 am | Posted By CASANSAAR
A chartered accountant was arrested in Mumbai on Thursday in connection with his alleged role in the Singapore-based online survey company SpeakAsia's multi-level marketing scam taking the total number of arrests in the case to six, police said. "Acting on a tip off, the accu...
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General |
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